Investors interested in stocks from the Internet - Content sector have probably already heard of Perion Network (PERI Quick QuotePERI - Free Report) and Tencent Music Entertainment Group Sponsored ADR (TME Quick QuoteTME - Free Report) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.

Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.

Perion Network has a Zacks Rank of #1 (Strong Buy), while Tencent Music Entertainment Group Sponsored ADR has a Zacks Rank of #3 (Hold) right now. The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that PERI has an improving earnings outlook. However, value investors will care about much more than just this.

Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.

The Style Score Value grade factors in a variety of key fundamental metrics, including the popular P/E ratio, P/S ratio, earnings yield, cash flow per share, and a number of other key stats that are commonly used by value investors.

PERI currently has a forward P/E ratio of 6.82, while TME has a forward P/E of 17.11. We also note that PERI has a PEG ratio of 0.31. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. TME currently has a PEG ratio of 0.72.

Another notable valuation metric for PERI is its P/B ratio of 1.47. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. By comparison, TME has a P/B of 2.31.

These metrics, and several others, help PERI earn a Value grade of A, while TME has been given a Value grade of C.

PERI sticks out from TME in both our Zacks Rank and Style Scores models, so value investors will likely feel that PERI is the better option right now.